Cullinan Associates Inc. Acquires New Holdings in Evergy, Inc. (NYSE:EVRG)

Cullinan Associates Inc. bought a new position in Evergy, Inc. (NYSE:EVRG) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,403 shares of the company’s stock, valued at approximately $1,409,000.

Several other hedge funds also recently modified their holdings of the business. Atwood & Palmer Inc. boosted its stake in Evergy by 30.5% during the 4th quarter. Atwood & Palmer Inc. now owns 855 shares of the company’s stock valued at $45,000 after purchasing an additional 200 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of Evergy by 0.3% during the 4th quarter. IFM Investors Pty Ltd now owns 73,111 shares of the company’s stock worth $3,816,000 after acquiring an additional 206 shares during the period. Raleigh Capital Management Inc. grew its stake in shares of Evergy by 4.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,531 shares of the company’s stock valued at $280,000 after purchasing an additional 211 shares during the period. Global Retirement Partners LLC grew its position in Evergy by 13.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the company’s stock valued at $96,000 after acquiring an additional 216 shares during the period. Finally, Verity Asset Management Inc. lifted its holdings in shares of Evergy by 5.4% during the fourth quarter. Verity Asset Management Inc. now owns 4,333 shares of the company’s stock valued at $226,000 after acquiring an additional 223 shares during the period. Institutional investors and hedge funds own 87.24% of the company’s stock.

Analyst Ratings Changes

EVRG has been the subject of a number of recent analyst reports. Citigroup assumed coverage on shares of Evergy in a research report on Tuesday, March 26th. They set a “buy” rating and a $64.00 target price for the company. Barclays lifted their price objective on Evergy from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, May 14th. Bank of America upgraded shares of Evergy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $51.00 to $57.00 in a research report on Wednesday, March 13th. LADENBURG THALM/SH SH assumed coverage on shares of Evergy in a research note on Thursday, April 4th. They set a “neutral” rating and a $51.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on Evergy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.83.

Evergy Trading Up 0.2 %

Shares of Evergy stock opened at $52.79 on Wednesday. The stock has a market cap of $12.14 billion, a P/E ratio of 15.13, a P/E/G ratio of 2.76 and a beta of 0.60. The company has a quick ratio of 0.32, a current ratio of 0.57 and a debt-to-equity ratio of 1.21. Evergy, Inc. has a 12-month low of $46.92 and a 12-month high of $61.84. The business’s 50 day moving average is $53.65 and its 200-day moving average is $52.15.

Evergy (NYSE:EVRG) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.35 billion. Evergy had a net margin of 12.84% and a return on equity of 8.32%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. Equities research analysts predict that Evergy, Inc. will post 3.84 earnings per share for the current fiscal year.

Evergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, May 20th were given a dividend of $0.6425 per share. The ex-dividend date was Friday, May 17th. This represents a $2.57 dividend on an annualized basis and a yield of 4.87%. Evergy’s dividend payout ratio (DPR) is 83.17%.

Evergy Profile

Evergy, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in the United States. The company generates electricity through coal, landfill gas, uranium, and natural gas and oil sources, as well as solar, wind, other renewable sources. It serves residences, commercial firms, industrials, municipalities, and other electric utilities.